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Lake Oswego Real Estate October 2017 RMLS™ Market Update

October Residential Highlights

The Portland metro area saw cooler numbers almost across the board this October.

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

New listings made the solitary gain—the 2,981 new listings offered outpaced October 2016 by 1.8% despite a 18.2% decrease from last month in September 2017.

Closed Sales

Closed sales, at 2,565, fell 0.9% short of the 2,589 closings recorded last year in October 2016 and 3.6% short of the 2,660 closings recorded in September 2017.

Pending Sales

Pending sales (2,705) fared similarly, showing a 4.8% decrease from October 2016 (2,841) and a 0.9% decrease from last month in September 2017.

Inventory Of Houses For Sale

Inventory decreased slightly to 2.1 months in October, with total market time increasing to 44 days.

Year to Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (36,614) are down 2.1%, closed sales (26,551) are down 3.0%, and pending sales (27,385) are down 7.1%.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through October, the average sale price rose 9.0% from $393,900 to $429,400. In the same comparison, the median sale price rose 10.1% from $345,000 to $379,900.

Lake Oswego Real Estate Market

The Lake Oswego Real Estate market is still a seller’s market.  Last October 2016 we had fewer houses for sale than we do this October 2017. Lake Oswego had 2.8 months of houses for sale in 2016, while this October 2017, we had 3.2 months of houses for sale. And in September 2017, Lake Oswego had 3.7 months of houses for sale.

While inventory of houses for sale has increased, we are not yet at what is considered to be a “normal” real estate market – favoring both buyers and sellers. There are still multiple offers in certain sub-markets of the Portland metro real estate areas and above asking price offers occasionally as well.

If your house is still on the market since Spring or Summer and you have not lowered your asking price, now is definitely the time to do so.  Many sellers who still have the higher Summer asking prices are not seeing a sale. As we are approaching an even slower real estate market due to seasonal changes such as Winter and the holidays, if you want your home sold still in 2017, reduce your asking price now.

Getting Your Home Sold

One of my recent sales had all the bells and whistles and the home showed beautifully.  Everything inside was immaculate.  However, what I call the “bones” were not properly maintained or taken care of.  The gutters were packed full, the furnace was filthy, the roof needed maintenance, etc.  All of these things, and other items of neglect, should have been taken care of BEFORE placing that home on the market.

Required maintenance of your home doesn’t disappear when you are getting your home ready for sale.  If you haven’t taken care of those issues prior to selling, you definitely need to take care of them before an offer is received.

Not only do I blame this neglect on the owners, but I also place some responsibility on the real estate broker.  These issues are items I discuss with potential sellers before I list their home.  They appear as stumbling blocks, or items of negotiation when an offer is received.  Eliminating those issues make for much smoother negotiations and transaction.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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September Residential Highlights

Lake Oswego Real Estate RMLS™ Market Action Report September 2017

Portland saw cooler activity across the board this September.

New Lihttps://lakeoswegorealestateblog.wordpress.com/stings

New listings at 3,644, fell 0.8% short of the 3,673 listings offered last year in September 2016 and 10.0% short of the 4,048 listings offered last month in August 2017.

Closed Sales

Closed sales, at 2,660, ended 5.8% below the 2,823 closings recorded in September 2016 and 12.3% below the 3,034 closings recorded in August 2017.

Pending Sales

Pending sales, at 2,730, similarly decreased 4.4% from September 2016 (2,857) and 11.1% from August 2017 (3,072).

Days On The Market

Total market time in September rose three days to end at 37 days. Inventory creeped up to 2.3 months in the same period. There were 5,998 active residential listings in the Portland metro area this September.

Year to Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (33,560) are down 2.5%, closed sales (23,811) are down 3.2%, and pending sales (24,859) are down 7.2%.

Average and Median Sale Priceshttps://lakeoswegorealestateblog.wordpress.com/

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through September, the average sale price rose 9.2% from $392,600 to $428,800. In the same comparison, the median sale price rose 10.1% from $345,000 to $379,900.

Lake Oswego Real Estate Market

If you have been following my blog you will have read where I posted that I had noticed our real estate market slowing down at the beginning of May 2017.  We are edging up in inventory – now at 2.3 for the Portland metro area and the Lake Oswego/West Linn market at 3.7 months.  We are still definitely in a seller’s market but if we get closer to 5-6 months of inventory, we will be what we consider to be a “normal” market favoring both buyers and sellers.

There are still some price ranges and areas that are seeing multiple offers.  However, I am seeing more contingency sales (subject to buyer’s house selling), closing costs paid, and less than list price sales.  Year-to-date prices in Lake Oswego rose by 8.9%.

We are also approaching the time of year where typically we see a seasonal decline in sales.  Right before the holidays, there is a mad dash when buyers want to be in their homes before Christmas or move in over the New Year’s.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate August 2017 RMLS™ Market Update

I knew as soon as I posted the July report, the August report would follow shortly thereafter. The latest report was just issued.

AUGUST 2017 RMLS™ Market Update

August Residential Highlights

August brought mixed activity to the Portland metro area, but closed sales saw some modest gains. At 3,034, closings rose 1.1% compared to last year in August 2016 (3,001) and 8.6% compared to last month in July 2017 (2,793).

Pending Sales

Pending sales, at 3,072 for the month, edged 1.1% over July 2017 when 3,040 offers were accepted but fell 7.6% short of the 3,325 offers accepted last year in August 2016.

New Listings

New listings, at 4,048, ended 3.7% under both July 2017 when 4,202 new listings were offered, and August 2016 when 4,203 new listings were offered for the month.

Inventory of Houses For Sale and Days On The Markethttps://lakeoswegorealestateblog.wordpress.com/

Inventory decreased to 2.0 months in August. During the same period total market time increased by one day, ending at 34 days. There were 5,940 active residential listings in the Portland metro area in August.

Year To Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (29,852) are down 2.6%, closed sales (20,990) are down 2.7%, and pending sales (22,296) are down 7.6%. You can see overall, that the real estate market in Portland is not as “hot” as it was last year.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through August, the average sale price rose 9.3% from $392,600 to $429,000. In the same comparison, the median sale price rose 10.7% from $343,200 to $379,900.

Lake Oswego Real Estate August Stats

Inventory of houses for sale in Lake Oswego is now close to 3 months.  It is still a seller’s market in Lake Oswego, but if it gets to 5-6 months of inventory, we will see a shift.  Lake Oswego prices increased 8.6% compared to Portland prices that rose 9.3% within the last 12 months.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

As I sit in front of my computer, I see I have not posted in over a month here on my blog.  Where the heck did the time go?  In addition, I see I did not post the latest RMLS™ Market Update July 2017 (with June stats) and a new update for August (with July stats) will be out in the next day or so. So before I get too far behind, here is the latest RMLS™ Market Update.

Lake Oswego Real Estate RMLS™ Market Update July l2017

At the beginning of May, I personally noticed a slowdown in our local real estate market here in Lake Oswego.  I started posting my beliefs in my “This Week Stats’ category here on my blog.

While I had no stats to support my hunches, I knew there was a shift happening.  Our RMLS™ stats, which only reflect the previous month and are not current on a daily basis, was not providing stats to support what I was seeing.  In addition, the Case-Schiller Report also reports only on stats from the previous 3 months, and again was not indicating a slowdown.  The Altos Research stats are weekly, and there again, I was not seeing anything to support my feelings that a slowdown was happening.

It became difficult for me to inform my sellers and buyers that days on the market were increasing, there was an increase in inventory, and some areas had seen price decreases etc. because there were no stats supporting that as yet.

However, in July, the national media reported that June had seen a decrease (that would account for a slowdown in May).  Again in July, the national media again reported there was another decrease in July.  And, finally, Altos Research, which reports on neighborhoods, zip codes, cities weekly, also started to report what I was seeing. Locally nothing was being reported  about a slowdown yet.

In the many Facebook real estate groups I belong to, agents there didn’t say they saw any noticeable differences either until July while I had seen it at the beginning of May already.

This July 2017 RMLS™ Market report (which is based on June stats) also now is reporting the slowdown.  Is it seasonal?  Is it the start of a continuing trend?  What I know is that there is not as much of a frenzy as there had been.  While multiple offers still exist in certain areas and at certain price points, the multiple offers over list price as slowing down. How did I see a slowdown happening so early?

I call local real estate agents the “boots on the ground”. I was out there writing offers that were no longer in multiple offer situations, there was more inventory to show, immediate offers as soon as my listings came on the market didn’t appear, and buyer activity/showings on my listings had slowed.

Not All Bad News

While you might think this is bad news, in many ways it is not.  Buyers were exiting the market because of the frenzy and hopefully this will bring buyers back into the Lake Oswego Real Estate Market and into the Portland Metro Real Estate Market.  Interest rates are still low and sellers are experiencing an increase in equity as prices are well above the pre-recession era.  It is still a seller’s market and it is still a good time to sell or buy.

July Residential Highlights

Portland real estate activity cooled a bit this July.

Closed Sales

Closed sales, at 2,793, cooled 12.4% from June when 3,187 closings were recorded, although these sales pushed 0.6% past the 2,776 closings recorded last year in July 2016.

Pending Sales

Pending sales, at 3,040, fell 7.9% short of the 3,302 offers accepted last year in July 2016 and 6.6% short of the 3,254 offers accepted last month in June 2017.

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

Similarly, new listings (4,202) showed a 3.9% decrease compared to July 2016 (4,372) and a 11.3% decrease compared to June 2017 (4,739).

Days On The Market

Total market time decreased by five days in July, ending at 33 days. In the same period, inventory crawled up to 2.1 months.

Year to Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (25,723) are down 2.4%, closed sales (17,807) are down 3.3%, and pending sales (19,390) are down 7.6%.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through July, the average sale price rose 9.3% from $391,600 to $428,000. In the same comparison, the median sale price rose 11.2% from $340,000 to $378,000.

This Week Stats

I will continue to report on the most up-to-date information I have in my This Week Stats category here on my blog for Lake Oswego. However, if you want specific information as to your street or neighborhood, please let me know as I can also provide that for you anywhere in the Portland metro area.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

Lake Oswego Real Estate RMLS™ Market Action Report June 2017

June Residential Highlights

It was another good month for new listings this June in the Portland metro area real estate market. There were 4,739 new listings recorded, a 5.3% increase over the 4,501 new listings offered last year in June 2016 and a 8.0% increase over the 4,388 new listings posted last month in May 2017. It was the strongest June for new listings since 2008, when 5,213 were offered for the month.https://lakeoswegorealestateblog.wordpress.com/

Closed Sales

Closed sales, at 3,187, fared 0.9% better than last year in June 2016 (3,158) and 10.0% better than last month in May 2017 (2,896).

Pending Sales

Pending sales, at 3,254, decreased 4.0% compared to June 2016 (3,390) and 5.3% compared to May 2017 (3,435).

Inventory

Inventory snuck up to 1.6 months in June, with total market time decreasing by one day, to end at 38 days.

Year to Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (21,505) are down 1.8%, closed sales (14,866) are down 3.9%, and pending sales (16,572) are down 7.2%.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through June, the average sale price rose 9.8% from $388,800 to $427,000. In the same comparison, the median sale price rose 10.3% from $339,900 to $375,000.

Lake Oswego Real Estate Stats

It seems everyone knows or talks about real estate.  I have clients tell me all the time that their friends told them this or that about the real estate market.  However, what holds true for one neighborhood or area, may or may not be true for another Portland real estate market.

Stats are local.  In other words, what may be happening in Beaverton, most likely is not happening in Lake Oswego for example.  Stats vary street by street, neighborhood by neighborhood.  It is important to know what is happening specifically in your neck of the woods.

I have been reporting on this blog in posts under the category “This Week Stats”, that we had seen a slow down in our Lake Oswego real estate market. I had started noticing it in early May.  Other real estate agents said they had seen it start last November during the elections.  I had been waiting for the RMLS™ Market Update for June to see whether what I thought was true or not.  In fact it is.

Lake Oswego Real Estate

May 2017 had Lake Oswego homes selling in 54 days, June days on the market increased to 71 days.  In addition, the average sales price dropped from May’s $630,400 to June’s $627,600.  Pending sales are also down to -6.9% for Lake Oswego.  May also had 2.3 months of inventory, while in June, Lake Oswego had 2.4 months of inventory.  Compare that to Portland’s 1.6 months of available houses for sale.

Will this be a recurring trend?  I will be keeping an eye on it for sure.

Have questions about your neighborhood?  I can give you the current and correct information!

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

 

Lake Oswego Real Estate May 2017 Market Action Report

Our most recent RMLS™ Market Action Report was issued today for May 2017.

May Residential Highlights

New Listings

New listings ticked upward in the Portland metro area this May. At 4,388 strong, new listings outpaced May 2016 (4,144) by 5.9% and April 2017 (3,759) by 16.7%. This was the strongest May for new listings in the area since 2008, when 5,182 new listings were offered.https://lakeoswegorealestateblog.wordpress.com/

Closed Sales

Closed sales (2,896) exactly matched May 2016 and showed a 30.5% increase over last month in April 2017.

Pending Sales

Pending sales, at 3,435, fell 3.6% shy of the 3,563 offers accepted last year in May 2016 but still outpaced last month, April 2017 (3,088), by 11.2%.

Days On The Market

Total market time decreased by three days in May, landing at 39 days. During the same period, inventory edged downward to 1.5 months.

Year to Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (16,696) are down 3.4%, closed sales (11,510) are down 5.4%, and pending sales (13,469) are down 7.8%.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through May, the average sale price rose 10.7% from $383,000 to $423,800. In the same comparison, the median sale price rose 10.7% from $334,200 to $370,000.

Days On The Market To Sell By Area

Days on the market dropped this month compared to April.  The following are the total market times by area:

N. Portland = 28 days

NE Portland = 27 days

SE Portland = 28 days

Gresham/Troutdale = 43 days

Milwaukie/Clackamas = 41 days

Oregon City/Canby = 48 days

Lake Oswego/West Linn = 54 days

West Portland = 44 days

NW Washington County = 42 days

Beaverton/Aloha = 25 days

Tigard/Wilsonville = 30 days

Hillsboro/Forest Grove = 32 days

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move. I can help you move forward.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate RMLS™ Market Update April 2017

Our lates RMLS™ Market Update for April 2017 was issued several days ago.  It has been a busy Spring buying/selling season so once again I am late in posting the information.

RMLS™ Market Update April 2017

April Residential Highlights

The Portland metro area saw some mixed real estate activity this April, while the year to date still remains cooler compared to 2016.

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

New listings, at 3,759, fared 4.3% better than last month in March 2017 (3,604), but fell 7.9% short of the 4,082 new listings offered last year in April 2016.

Pending Sales

Similarly, pending sales (3,088) were 10.0% cooler than in April 2016 (3,432) but showed a modest 1.5% gain over last month in March 2017 (3,043).

Closed Sales

Closed sales, at 2,219, fell 11.0% short compared to last month’s 2,494 closings and 15% short compared to the 2,611 closings recorded last year in April 2016.

Inventory

Inventory crawled upward in April, ending at 1.7 months. Total market time decreased, ending at 42 days. There were 3,753 active residential listings in the Portland metro area in April.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending April 30th of this year ($406,500) with the average price of homes in the twelve months ending April 2016 ($365,200) shows an increase of 11.3%. In the same comparison, the median has increased 11.6% from $318,500 to $355,500.

Lake Oswego Real Estate

Lake Oswego saw a 9.6% increase in price from April 2016 to April 2017.  There is currently 2.8 months of inventory compared to 2.4 months in March 2017.  I have seen an increase of new listings coming on the market in the RMLS™ area 148 for Lake Oswego/West Linn RMLS™ area. The unsold inventory is increasing and I have read a report recently that some parts of the Portland metro real estate market are edging towards a buyer’s market.

As indicated many times, a “normal” real estate market is 5-6 months of inventory (or under 7 months).  While we are still a distance (2.8 months) from being a normal market or even a buyer’s market, there are more listings for sale now in Lake Oswego than there have been, and mostly the houses are at the upper (high) end price range.

It is still a seller’s real estate market in Lake Oswego and especially for houses under the April 2017 median price range for Lake Oswego of $550,000.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move. I can help you move forward.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate RMLS Market Action Report March 2017

Once again our RMLS™ Market Action Report for March 2017 looks like a repeat of last year’s inventory numbers.  We are at 1.3 months of houses for sale same as March 2016.  Which means if nothing else came on the market for sale today, it would take only 33 days to sell every single house currently for sale. This also means it continues to be a sellers’ market and where buyers will be faced with multiple offers and over list price sales.

https://lakeoswegorealestateblog.wordpress.comCurrently, the Lake Oswego/West Linn real estate market however has 2.4 months of inventory compared to 1.3 for the Portland metro real estate market.  Still a sellers’ real estate market in Lake Oswego/West Linn as well.  The average price for a home in Lake Oswego/West Linn is now $578, 400 and the total days on market is 89 before a Lake Oswego/West Linn house is sold.

March Residential Highlights

The Portland metro area had a sunny month for new listings this March. At 3,604, new listings outpaced March 2016 (3,409) by 5.7% and February 2017 (2,521) by 43.0%. This was the strongest March for new listings in the area since 2010, when 4,987 were offered for the month.

Pending Sales

Pending sales (3,043) warmed 28.5% over last month in February 2017 (2,369) but fell 1.1% short of the 3,076 offers accepted during this month last year in March 2016.

Closed Sales

Closed sales, at 2,494, similarly outpaced February 2017 (1,669) by 49.4% but still ended 2.8% cooler than in March 2016 when 2,565 closings were recorded for the month.

Days On The Market

Total market time decreased by four days this March, ending at 58 days. Inventory decreased as well, ending at 1.3 months. There were 3,313 active residential listings in the Portland metro area this March.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending March 31st of this year ($404,300) with the average price of homes in the twelve months ending March 2016 ($361,100) shows an increase of 12.0%. In the same comparison, the median has increased 12.2% from $315,000 to $353,500.

Percent Increase Year To Date in Sales Price

Every corner of our Portland real estate market has seen annual appreciation.  Here are the year-to-date increases in price by area:

  • North Portland 11.7%
  • NE Portland 11.6%
  • SE Portland 11.2%
  • Gresham/Troutdale 12.1%
  • Lake Oswego/West Linn 13.3%
  • West Portland 14.4%
  • NW Washington County 10.3%
  • Beaverton/Aloha 11.2%
  • Tigard/Wilsonville 8.5%
  • Hillsboro/Forest Grove 14.4%

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate RMLS Market Action Report February 2017

It is a busy time of year.  We are seeing an increase in listings; however, we still have more buyer demand than we have properties to sell.

Have you been thinking of selling or downsizing?  Now is a great time to move on.  Because of our low inventory we are still seeing multiple offers in many of our Portland metro real estate markets.  Buyers are in full force due to a busy Spring season coming up and interest rates are still low.  This may be one of the best times to sell.

RMLS™ Market Action Report February 2017

Here are the most recent stats for our Portland metro real estate market.

February Residential Highlights

February brought more mixed activity to the Portland metro area, but activity made some gains over last month.

Pending Sales

Pending sales (2,369) showed a 19.0% increase over the 1,990 offers accepted last month in January 2017, but a 15.0% decrease when compared to last year in February 2016.https://lakeoswegorealestateblog.wordpress.com/

New Listings

Similarly, new listings (2,521) ended 12.9% under the 2,896 new listings offered last year in February 2016 but were 14.0% warmer compared to the 2,212 new listings offered last month in January 2017.

Closed Sales

Closed sales, at 1,669 for the month, ended 7.9% below February 2016 (1,813) and 9.6% below closings recorded last month in January 2017 (1,847).

Inventory of Houses For Salehttps://lakeoswegorealestateblog.wordpress.com/

Inventory edged slightly higher in February, ending at 1.9 months. Total market time rose to 62 days during the same period. There were 3,109 active residential listings in the Portland metro area this February.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending February 28th of this year ($400,800) with the average price of homes in the twelve months ending January 2016 ($357,400) shows an increase of 12.1%. In the same comparison, the median has increased 12.9% from $310,000 to $350,000.

Lake Oswego Real Estate Market

While the Portland metro area has 1.9 months of inventory available, the Lake Oswego real estate market has 3.1 months of inventory for sale. Last month Lake Oswego had 2.9 months. As Spring approaches there will be more listings coming on the market, but there will also be an increase in buyers. Don’t wait until everyone else decides to put their house on the market, list now!

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  If you want instant notifications from RMLS™, please let me know and I can arrange for you to receive listings as soon as they come on the market for sale.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate RMLS™ Market Action Report January 2017

The latest stats for our Portland metro real estate markets have just been published by RMLS.™  Portland saw 4 snow events (2 in December and 2 in January), and weather significantly affects our real estate market. In addition, with little to no houses to sell and many appraisals, closings etc. were delayed because of all our snow, these stats show the impact our weather issues had on the most recent stats.

January Residential Highlights

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

The Portland metro area started the year with a little mixed activity this January. New listings (2,212) rose 55.7% from December (1,421) but fell 12.2% short of the 2,519 new listings offered last year in January 2016.

Pending Sales

Similarly, pending sales (1,990) ended 13.3% stronger than last month in December (1,757) but were 11.3% cooler than last January (2,243).

Closed Sales

https://lakeoswegorealestateblog.wordpress.com/Closed sales, at 1,847, fell just 0.6% short of the 1,859 closings recorded last year in January 2016 but ended 29.5% below the 2,621 closings recorded last month in December 2016.

Total Days On The Market

Total market time increased by nine days in January, ending at 58 days. During the same period, inventory rose slightly to 1.7 months. There were 3,214 active residential listings in the Portland metro area in January.

Average and Median Sale Prices

Comparing the average price of homes sold in the twelve months ending January 31st of this year ($398,400) with the average price of homes in the twelve months ending January 2016 ($355,600) shows an increase of 12.0%. In the same comparison, the median has increased 12.9% from $309,900 to $350,000.

Average Selling Price % Change Year-to-Date

The Lake Oswego/West Linn real estate market has seen a 16.2% increase (year-to-date) for the average sale price.

https://lakeoswegorealestateblog.wordpress.com/
Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

Summa Pacific Cascade
4949 Meadows Rd. #100
Lake Oswego, Oregon 97035

Licensed in the State of Oregon

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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